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MARC has placed its AIS rating on Matang Highway Sdn Bhd's (Matang) RM70.0 million Sukuk Musharakah on MARCWatch Negative. The rating action affects RM15.0 million of outstanding Sukuk. Matang is a wholly-owned single-purpose funding vehicle of Zecon Berhad (Zecon). Its payment obligations under the fully-amortising Sukuk are primarily funded by progress payments collected from JKR Sarawak under a...
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MARC has affirmed its MARC-1/AA- ratings on IJM Corporation Berhad's (IJM) RM1,000 million Commercial Paper/Medium Term Notes Programme with a stable outlook based on IJM's relatively resilient consolidated performance in a challenging economic environment and the rating agency's expectation that industry conditions and operating results will support improvements in IJM's current financial risk pr...
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MARC has affirmed the ratings of MARC-1(bg)/AAA(bg) on Tranche A of Legolas Capital Sdn Bhd’s (Legolas) RM105.0 million Commercial Paper/Medium Term Notes (CP/MTN) Programme and MARC-1(bg)/AA+(bg) on Tranche B RM110.0 million CP/MTN Programme. The ratings carry a stable outlook. Legolas is a special purpose issuing vehicle established for the sole purpose of raising funds for the development...
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MARC has assigned a rating of AA- to WCT Berhad’s (WCT) RM600 million serial fixed rate bonds with 193.7 million detachable warrants. The outlook for the rating is stable. The proceeds from the issue will be used to fund the repayment of its upcoming debt maturities totalling RM350 million in FY2011 and FY2012 as well as working capital requirements of the group. The assigned rating incorpor...
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MARC has withdrawn its AAA ratings on Free Zone Capital Berhad’s (FZCB) and Valid Venture Berhad’s (VVB) Fixed Rate Serial Bonds of RM410 million and RM510 million respectively. The ratings withdrawal follows the confirmation that the facilities have been fully redeemed and cancelled on November 26, 2010 and November 30, 2010 respectively, as confirmed by the facility agent OSK Investm...
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MARC has withdrawn its AAA ratings on Free Zone Capital Berhad’s (FZCB) and Valid Venture Berhad’s (VVB) Fixed Rate Serial Bonds of RM410 million and RM510 million respectively. The ratings withdrawal follows the confirmation that the facilities have been fully redeemed and cancelled on November 26, 2010 and November 30, 2010 respectively, as confirmed by the facility agent OSK Investm...
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MARC has affirmed its ratings on the four special purpose vehicle debt issuances which are supported by deferred payment receivables from Port Klang Authority (PKA) in respect of the land purchase and development costs of the Port Klang Free Zone (PKFZ) as follows:NoIssuers Issues*Current RatingsOutlook1.Special Port Vehicle Berhad (SPVB) RM1,310 million ABSBAAANegative2.Transshipment ...
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MARC has affirmed its ratings on the four special purpose vehicle debt issuances which are supported by deferred payment receivables from Port Klang Authority (PKA) in respect of the land purchase and development costs of the Port Klang Free Zone (PKFZ) as follows: NoIssuers Issues*Current RatingsOutlook1.Special Port Vehicle Berhad (SPVB) RM1,310 million ABSBAAANegative2.Transsh...
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MARC has affirmed its ratings on the four special purpose vehicle debt issuances which are supported by deferred payment receivables from Port Klang Authority (PKA) in respect of the land purchase and development costs of the Port Klang Free Zone (PKFZ) as follows:NoIssuers Issues*Current RatingsOutlook1.Special Port Vehicle Berhad (SPVB) RM1,310 million ABSBAAANegative2.Transshipment ...
This article has been viewed 1309 times.
MARC has affirmed its ratings on the four special purpose vehicle debt issuances which are supported by deferred payment receivables from Port Klang Authority (PKA) in respect of the land purchase and development costs of the Port Klang Free Zone (PKFZ) as follows:NoIssuersIssues*Current RatingsOutlook1.Special Port Vehicle Berhad (SPVB)RM1,310 million ABSBAAANegative2.Transshipment Megahub Berhad...
This article has been viewed 1582 times.